He was also criticized for cancelling well-
regarded but expensive shows such as “Twin
Peaks” and “thirtysomething.”
Before the Fox deal, Iger steered Disney through
the successful acquisitions of Lucasfilms,
Marvel, Pixar and other brands that became big
moneymakers for Disney.
Since Iger became CEO, Disney’s stock price
has risen fivefold. Its stock fell more than 2% in
extended trading following the announcement.
Iger, 69, was the second-highest paid CEO in
2018, as calculated by the press and Equilar, an
executive data firm. He earned $65.6 million. The
top earner was Discovery’s David Zaslav who
earned $129.5 million.
Susan Arnold, the independent lead director of
the Disney board said succession planning had
been ongoing for several years.
Chapek, 60, is only the seventh CEO in Disney
history. Chapek was head of the parks,
experiences and products division since it was
created in 2018. He was previously head of
parks and resorts and before that president of
consumer products.